Argentina : Developing Deep and Sustainable Housing Finance Markets
The housing deficit in Argentina is estimated to affect 6 million out of the 24 million households nationally. Macro-economic turmoil has contributed to this imbalance in two ways. First, the continuous inflation and currency depreciation made real...
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/248871498688500827/Argentina-Developing-deep-and-sustainable-housing-finance-markets http://hdl.handle.net/10986/28324 |
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okr-10986-283242021-05-25T09:02:47Z Argentina : Developing Deep and Sustainable Housing Finance Markets World Bank Group HOUSING FINANCE MORTGAGE INSURANCE CAPITAL MARKETS The housing deficit in Argentina is estimated to affect 6 million out of the 24 million households nationally. Macro-economic turmoil has contributed to this imbalance in two ways. First, the continuous inflation and currency depreciation made real estate a refuge investment protecting the capital value of investors. Second, rapid inflation acts a strong deterrent to the provision of long term finance and in particular mortgages. The government overhauled the public housing assistance policy by launching a 2016-2019 integrated housing and habitat plan (plan integral de vivienda y habitat). This plan aims to stimulate the production, or to provide one million housing solutions through two programs: a neighborhood improvement program targeting informal settlements, and a credit-linked subsidy program, solucion casa propria, through which up-front subsidies are granted to first time home buyers who contract mortgages, thus leveraging the impact of public intervention with bank credit. The broad prohibition of indexation has for a long time stunted the provision of long term, finance. To successfully grow the mortgage market, banks need funding and tools to manage interest rate and liquidity risks - that is, in the absence of significant derivative markets, funding from the capital market. The eventual development of a mortgage bond market based on housing loan portfolios, will help to increase the supply of stable long term funding instruments. 2017-09-12T21:47:33Z 2017-09-12T21:47:33Z 2017-06 Report http://documents.worldbank.org/curated/en/248871498688500827/Argentina-Developing-deep-and-sustainable-housing-finance-markets http://hdl.handle.net/10986/28324 English en CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Latin America & Caribbean Argentina |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English English |
| topic |
HOUSING FINANCE MORTGAGE INSURANCE CAPITAL MARKETS |
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HOUSING FINANCE MORTGAGE INSURANCE CAPITAL MARKETS World Bank Group Argentina : Developing Deep and Sustainable Housing Finance Markets |
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Latin America & Caribbean Argentina |
| description |
The housing deficit in Argentina is
estimated to affect 6 million out of the 24 million
households nationally. Macro-economic turmoil has
contributed to this imbalance in two ways. First, the
continuous inflation and currency depreciation made real
estate a refuge investment protecting the capital value of
investors. Second, rapid inflation acts a strong deterrent
to the provision of long term finance and in particular
mortgages. The government overhauled the public housing
assistance policy by launching a 2016-2019 integrated
housing and habitat plan (plan integral de vivienda y
habitat). This plan aims to stimulate the production, or to
provide one million housing solutions through two programs:
a neighborhood improvement program targeting informal
settlements, and a credit-linked subsidy program, solucion
casa propria, through which up-front subsidies are granted
to first time home buyers who contract mortgages, thus
leveraging the impact of public intervention with bank
credit. The broad prohibition of indexation has for a long
time stunted the provision of long term, finance. To
successfully grow the mortgage market, banks need funding
and tools to manage interest rate and liquidity risks - that
is, in the absence of significant derivative markets,
funding from the capital market. The eventual development of
a mortgage bond market based on housing loan portfolios,
will help to increase the supply of stable long term funding instruments. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Argentina : Developing Deep and Sustainable Housing Finance Markets |
| title_short |
Argentina : Developing Deep and Sustainable Housing Finance Markets |
| title_full |
Argentina : Developing Deep and Sustainable Housing Finance Markets |
| title_fullStr |
Argentina : Developing Deep and Sustainable Housing Finance Markets |
| title_full_unstemmed |
Argentina : Developing Deep and Sustainable Housing Finance Markets |
| title_sort |
argentina : developing deep and sustainable housing finance markets |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/248871498688500827/Argentina-Developing-deep-and-sustainable-housing-finance-markets http://hdl.handle.net/10986/28324 |
| _version_ |
1764466462021386240 |